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Search Results 0 to 49 of about 82 (some duplicates have been removed)
at new 19-month highs. our correspondent said as the summary from the frankfurt stock exchange. >> the end of the era was a surprise to traders in frankfurt but did not worry them because his successors were known at the financial markets. it looks like a well-organized change. shares were up, but for dutch bank, the problems are getting worse. the towers have been searched again, and yesterday, the bank was convicted in milan. the shares have been lower. the german dax took a little break from its christmas -- christmas rally and closed barely unchanged. families say in frankfurt for a closer look at thursday's numbers. the dax had finished slightly higher. euro stoxx 50 up just a tad as well. on wall street this hour, the dow trading up by about 0.25%, and the euro trading at a value of $1.3242. >> to the u.s. now where new date has revealed stronger than expected growth in the third quarter. the economy rose by 3.1%. housing sales were stronger than predicted. >> analysts say increase consumer spending is behind the figures, but they warn that the cost of hurricane sandy wil
in frankfurt on wednesday morning. hundreds of police officers raided the building, confiscated documents, and arrested five bankers in a money-laundering scandal that is estimated to have crossed germany hundreds of millions in lost taxes. >> we are investigating 25 individuals on suspicion of serious tax evasion, obstruction of justice, and money laundering. the suspects are accused of knowingly failing to report money laundering activities and seeking to cover up evidence. >> a deutsche bank co-chief executive, jurgen fitschen, is also under investigation for signing the company boss 2009 tax declaration. the bank maintains it was amended in a timely way. how much fitschen knew about the scheme remains to be discovered. traders bought emission permits in one eu country, paying no value added tax, resold them, and then claimed back tax illegally. which of unmanaged some of the shady accounts. it is the second -- deutsche bank managed some of the shady accounts. it is the second raid on the bank. this may be the tip of the iceberg for germany's biggest bank. >> our chief correspondent is
this report from the floor of the frankfurt stock exchange. >> the year has ended a very successful 2012, also for the frankfurt exchange, which is why you see tables and chairs where there usually are not. there will be a celebration here shortly, and there is something to celebrate -- the dax performed to the tune of about 30%-plus this year, and many shares went up. only a few lag behind. the best shares almost doubled in value. when you look at the second tier, there were some that more than doubled in value. demand mostly responsible for that, according to -- the man most responsible for that according to everyone here is mario draghi. he promised the european central bank would do everything in its power to preserve the euro, and that really release energy and restored some confidence also for the bureau. in 2013, people see more share market. the dax could reach a new record highs. people do expect it to be a bumpy road again. the growth percentage-wise probably not quite as big as it was this year. >> let's take a look at the numbers now on the last day of trading in frankfurt. the dax
. >> our correspondents and does this report from the frankfurt stock exchange -- our correspondent sent us this report from the frankfurt stock exchange. >> traders have been disappointed. they have to wait another day until they get to know the outcome of the greek program. uncertainty always drags down shares, not only of traders -- if traders and investors look at greece today are watching the problems in italy. the news that mario monti will step down really dragged down the mood. >> let's take a quick look at some market numbers. the dax closed just a tad out at 7530. the euro stoxx 50 ended the day almost 1/4 of 1% down. across the atlantic, the dow jones is currently going up just a tad. the euro is trading for 1.2934. >> 7.2 magnitude earthquake has struck off the coast of indonesia. reports saying it hit off shore of -- about 200 kilometers northwest of those islands. >> no tsunami warning has been issued. the usgs said the quake was reported at a depth of 158 kilometers. indonesia's's position within the ring of fire makes it prone to it -- indonesia's position within the ring of
for investors? our correspondence sent us this report from the frankfurt stock exchange. > germany's exporters are still reporting strong profits, but companies which mainly depend on the european markets are preparing for tougher times. truckmaker m.a.n. announced that it is planning to reduce capacity by ordering more than five dozen workers to work reduced hours. news like this limits the upward potential, just like the discussion in united states about tax increases and spending cuts. each time a solution between democrats and republicans seems to become a bit less probable. investors are getting nervous again, also here in frankfurt. >> let's take a quick look at some market numbers now. the dax closed just a tad down at 7435. euro stoxx 50 closed about 0.3% up. the dow jones going up just a tick. the euro trading for $1.3099. >> a major coup for german authorities in their fight against tax evasion. state prosecutors purchase a cd containing data on germans with almost 3 billion euros stashed at swiss bank ubs. and to report includes the information on more than 250 foundations with mill
euros penalty in court. >> we have this report from the frankfurt stock exchange. >> economic data from the eurozone confirms weakness. the economy in finland has slipped into a recession during the last quarter. the belgian economy only managed to stagnate. the services sector in the eurozone only managed to slow down its contraction. the transport companies, trade companies, and other companies of the services sector are far from being able to report a change of trend to the positive. no wonder that the stock market in frankfurt did not really get into gear this wednesday. an exception was made by these stocks -- the stocks of nokia. it announced an exclusive deal with china mobile, the world's largest mobile-phone services provider. they have more than 700 million subscribers. >> let's take a quick look at some market numbers. the dax ended the day at about -- up about 1/4 of 1%. euro stoxx 50 closed just a a tad up. -- just a tad up. the dow jones is at 13,076. the euro is trading at 1.3079. >> un generate -- un secretary general ban ki-moon is calling on nations to come to an agree
the european central bank was not all gloomy. our correspondent sent us this update from the frankfurt stock exchange. >> in his press conference in frankfurt, the ecb president also said that he expects inflation in the eurozone to fall below 2% next year, which means price stability, and it also means that the door for more interest rate easing by the ecb remains open, something that the stock market should profit from. this thursday also brought along very positive data from the german economy. the german manufacturing sector posted a significant increase of factory orders in october. something which gives hope for the industrial production in the months to come, and it also gives hope that the situation on the german labor market at least remains stable. >> let's take a quick look at some market numbers. the dax ended the day over 1% up at 7534. euro stoxx 50 close almost 0.5% up. across the atlantic, the dow jones is currently going up just a tad -- 13,043, the number there. the euro is trading for $1.2955. a legendary brazilian architect has died. he is best known as the father of bras
. >> for more rainiers on the reaction from traders, we have this report from stefan at the frankfurt stock exchange. >> after first report on friday saying that the greek buyback program has been a success, traders have been very disappointed. also here on the frankfurt floor, they have to wait another day until they get to know the outcome of the greek program. uncertainty always dragging down shares. as they look at greece, but also they're watching the problems in italy. the news that mariom onti -- monti will step down. that's really dragging down the mood. >> let's look at some market numbers. dax closing up. stoxx 50 at 2624. the dow jones is currently up almost 1%. the euro is trading at $1.3007. >> agrees has reached their target in a bond buyback scheme, at least they are calling to the state tv. >> they bought the bonds at a discount of 70% from investors and the private banks. this was a condition for them to receive further eu funds. finance ministers are set to meet to discuss releasing the bailout funds. british banking giant hsbc has agreed to pay a record $1.9 billion to se
the future of the german economy weighed on markets. we have this a bit from the frankfurt stock exchange. -- this update from the frankfurt stock exchange. >> the dax closed down at the highest level since five years, the day before. some profit-taking. shares have been dragged down by concerns that the german economy might cool down pretty soon. the ifo institute lowered its growth expectations for the german economy. the federal reserve seems to be quite pessimistic. looking at the u.s. economy, the fed thinks that the unemployment rate will stay very high next year. >> let's take a quick look at some market numbers. the dax closed at 7569. the euro stoxx 50 ended the day just a tad down. the dow jones is currently going down over 1/2 of 1%. >> hong fighting broke out in the ukrainian parliament -- fighting broke out -- >> fighting broke out in the ukrainian parliament. >> there are claims the governing coalition broke parliamentary rules by trying to force through the both. after the disruption, parliament elected a government-backed candidate to lead it. >> gentlemen, behave. >> japa
and as the summary from the frankfurt stock exchange. >> hopes fading at the stock market u.s. politicians may reach a deal on time, alarming traders. consumers on both sides of the atlantic are also worried. pessimism is growing, and this was a burden for the stock market at the end of the week, but the german dax could keep small gains throughout the week. bets on single shares are expiring, leading to a very volatile trading. >> we stay in frankfurt for a closer look at friday's numbers. the dax had finished the session down by nearly 0.5% -- 7636 points. your socks 50 -- euro stoxx 50 giving up 0.25%. the euro slightly weaker against the dollar, trading at a value of $1.3175. >> turning to france now where the economy is set to show minimal growth in first half of next year, according to the french national statistics institution, who predict a rise of 0.1%. >> france's economy also barely grew over the course of this year, but in what many analysts see as overly optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mand
hours with my relatives. then got back on a plane, flew to o'hare, and frankfurt, germany, sat in a lounge, then frankfurt, back to o'hare, back to austin. >> or you could try a hotel bonus. lots of hotels can be converted into free hotel nights. this can also get extreme when people like lynn shaffer hear about the hampton inn offering a bonus. >> i take my son to disney world. we hop from hotel to hotel every night. 13 days, 13 stays. >> so you switched hotels every time. >> next method, the rental carbo us in. typically you get a raise, but when one company raised the bonus to 10,000 for a one day rental, george smart went to his airport and rented almost every car off the lot. >> how many cars did you rent? >> about 12 or 15 in a morning and i would get maybe 60 to 100,000 miles for a very inexpensive investment, the equivalent of going to europe on discount twice. >> for renting cars for a morning. >> reporter: by now, we were sitting in the first class section, because even first class and business class come within reach to those who are frequent flier millionaires. as i
. hot on the heels from her stint in brusselss, silvia has moved back to frankfurt and the ecb headquarters. how more pessimistic might they be today in their forecasts. >> that's the big question. if they get too clee to the zero for the forecast next year, anything below let's say 0.4, 0.3 would be considered a little bit more bearish and that would of course increase the chances or risks whatever you want to look at it for further rate cut somewhere down the pike early next year, maybe january or february. the consensus for today is as you said no change on rates. remember a month ago, there were many calling for rate cut this month, but that seems to have receded right now. maybe also because the data we see out of the eurozone is rather mixed. everybody quite agrees that foirlt quarter is probably pretty glum, but consensus on the continent with many of the central bank economists is that at least for germ any, we probably see more of a sideways and stabilization movement next year, so maybe not the kind of falling off the cliff. so interesting to see how pessimistic the e
into the road. >> the passengers are tired on this bus from frankfurt to berlin, but many welcome the new long distance lines as an alternative to trains. >> it is cheaper, direct, no delays, very punctual. >> there is no bus the hamburger, but that would be good. i have of friends there -- no bus to hamburg. >> i think it's great i can take the bus there. >> they passed the time by playing cards or taking advantage of the free wifi. they have plenty of time and not a lot of money. it is almost like a social events. >> it is just more cozy. >> the company, dein bus of, is showing promise. they're targeting young clientele with quirky videos, but there is a catch. it happens only if enough passengers buy tickets. their advertising one-year wrote tickets and the price is a key. they see this as the dawning of a new era. >> in many other countries is a well established form of travel so it has a good image. in germany, its image will be improving. >> they have already staked out their position on the market this year. >> next sure we will be expanding. we have a lot of new lines and we will be in
ones including those in the white house, frankfurter, or close to the white house, frankfurt, brandeis, benjamin cool, sam rosen to be doing all they possibly could to push the united states into the war against germany to somehow get revenge against hitler. they were looking after their only tribal interests, they were not patriotic, and in a funny way he accused the jews of everything that billy graham's and protestants accused his son of when he ran for the presidency in 1960. he didn't believe it was possible to be a jew and to be a true patriot at the same time and those who opposed his son's election because he was roman catholic he said you couldn't be a catholic and a true blooded american at the same time because they couldn't turn him down. is it true kennedy's views about the future of the stock market was influenced by his bootblack one day was giving him advice on the marquette and supposedly kennedy had said on his way to his office he thought something is wrong when they give me advice? >> it's a great story. i found no evidence. it may be true. there are some stories th
the markets reacted to all of that news. our correspondence sent us this report from frankfurt. >> the dax climbed for about 2% this week, and share prices have been pushed mainly by the rescue package for greece, but at this last trading day of the week, trading has been quite low. the positive trend continued, although there has been some bad news coming in, like the record high unemployment rate in the euro area and the fact that u.s. consumers spend less money in october. nevertheless, the mood is fine. investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. euro stoxx 50 was down on the day. in new york, trading is still under way. it is also not really doing a whole lot today. as for the euro against the dollar, it is above that key $1.30 level, trading for $ 1.3002. unemployment in the eurozone climbed to yet another record in october. and 11.7% of the working age pop
. we talk about how that went down on the frankfurt stock exchange. >> the buyback offer, which the greek government made to private investors, it is much better than the market price of these government bonds was during the last few weeks. that is why many in the markets believe that maybe investors will accept to take part of this deal. the overall movement on the stock trading floor monday was a bit mixed, not so good economic data from the united states came in. on the other hand, chinese economic data looked quite good. it indicates that the economy in china is expanding again. that means that german companies can hope for new orders from china again, and the markets here can hope for new chinese money to be invested soon into german assets. >> let's take a quick look at some market numbers. the dax ended the day almost 1/2 of 1% up. the euro stoxx 50 closed up at 2582. the dow jones is currently going down about 1/4 of 1%. the euro is trading $1.3660. we turn our attention to syria, where the human cost of the civil war is not limited to loss and destruction inside the cou
this friday. our correspondence sent us this report from the frankfurt stock exchange. >> the suspense on the stock trading floor that weather or not the creditors of greece would take part in the debt buyback was too much for many investors. they decided to take some of the book's profits and sell shares. shares of deutsche telekom were the biggest dax losers. in order to invest money into new technologies such as broadband networks, they decided to cut the dividend for investors. now, many people here fear that this is something that more companies might do also next year, especially if the situation of the eurozone economy does not improve. >> let's take a quick look at some market numbers now. the dax ended the day almost 0.25% down. the euro stocks 50 down just a tad. across the atlantic, the dow jones is currently going up about 0.3%, and the euro is trading for $1.2925. >> three former workers at those two banks a huge losses were concealed to avoid a government bailout. the complaints were filed with u.s. regulators, including the securities and exchange commission. >> the thre
euros. it was also a big topic at the frankfurt stock exchange today. our market correspondent gave us this report from the trading floor. >> for the deutsche bank, this verdict is more than just a verdict because it weighs heavily on the image of germany's biggest bank. also because of the fact that the trial is not the only one that the deutsche bank is faced with, and some analysts are fearing now that investors might lose their confidence in dutch bank and sell their shares, so this week, though to bancshares lost by more than 5%, also because of the fact that there has been proper running. >> let's take a quick look at some of the market numbers right now. the dax ended the day up, 7596. euro stoxx 50 up slightly. the euro is trading for $1.3161. israel's foreign minister has resigned. >> that is right. his announcement comes a day after he was charged with fraud and breach of trust. the charges relate to allegations that he received classified documents concerning an investigation against him. he denies the charges and says he will now fight to clear his name. his resignation com
on to market news. germany also heard ld the japane results. >> the election outcome was driving the frankfurt stock market because he promised more stimulus measures and more cheap money from the central bank, but this policy also has a very negative side. the debt burden will be growing and one day they will have to pay very high price in return. the german market closing barely unchanged. deutsche bank causing outrage and worrying investors after complaining about the massive police raid last week to the premier of the state. this could weaken his position here. >> we will stay for a closer look at monday'sd numbers. ax finishing slightly higher. eurostoxx doown. the dow 13,198 and the euro is trading pretty much flat. $1.3162. in a report on gender equality shows women still earn much less than men on average. the 2012 global gender gap report by the organization for economic cooperation and development shows among developed countries, men earn 16% more than women in similar jobs. >> it shows women are less likely to make it to the top of the career ladder and as their earnings rarely reco
. for more now, we go to our correspondent in frankfurt. good news for ireland -- how are investors reacting? we also have good news from across the atlantic. explain to us. this has to do of course with the fiscal cliff. >> you are completely right. there is good news driving the german dax to the highest level in five years since the end of 2007, meaning the financial markets left crisis mode, although traders still see risk of setbacks next year, but with the announcement of the ecb to buy sovereign bonds, there is an important question to avoid the worst year. coming to the fiscal cliff as time is running out, there is really some hope that the parties are coming closer to reach a deal. president obama made important tax concessions and agreed to cut social spending by more than $1 billion. the german dax is up 0.4%. the euro is coming closer to $1.32. >> thanks very much. >> she was once considered the richest woman in germany, but she lost almost her entire fortune. now, she wants her money back, and she is taking her case to court. >> she is going head-to-head with a private bank. she
across germany. for more now, we had to the franc fort -- frankfurt stock exchange. positive news on the german economy. has that brought some cheer on the floor there? >> this is indeed a very nice christmas present and a strong signal that the german economy will recover again after its winter sleep, but the dax did not make a huge step forward. the stronger than expected ifo index may prevent european central banks from lowering interest rates again. >> we have had developments also in a libor scandal that broke earlier this summer. tell us about that. >> yes, the news is very bad. ubs has to pay the record fine of 1.2 billion euros in this libor scandal and its manipulation of interest rates. some british banks also have to pay millions of euros, and also deutsche bank is involved, and it is also in focus because exactly one week ago, hundreds of policemen into a bank in search of proof of tax fraud. hsbc has to pay $2 billion in a money-laundering case. the financial industry is working very hard for its bad reputation. the german dax is up 0.3%. euro stoxx 50 up .3%, and the
to snap up last-minute gifts. the big department stores in frankfurt were chock full of customers. >> my personal budget for gifts this year was nearly 1000 bureau. my presence included electronic gear, hiking boots, and clothing. >> i did not spend a lot. 400-500 euro. a few things for the kids, not a lot. >> german shops were less busy than expected in the run-up to the holidays though things have picked up in recent days. analysts say online sales have hurt traditional high street shopping. >> of course more people are making purchases online. growth rate there have been good. they have added on wineshops so people can visit the store in person or place their orders online. >> german retailers predict the christmas season sales will top last year. they will announce the final figures later this week. >> were christmas began, flocking to the west bank. >> darkness has fallen in the town traditionally believed to be the birthplace of jesus. thousands have gathered outside the church of the nativity with music and celebration waiting for midnight mass to begin in a few hours time. >> the
on sentiment among german investors as trading closed in frankfurt. >> nobody here believes that the u.s. will fall over that fiscal cliff. it would just be too great, the consequences to dyer, not just for the united states, but for the world economy, too, also for germany, but people do not know, and they do not like the prospect of a decision may be taking more time, may be even reaching into the year 2013. it would be a pretty bad start, a rumbly start to the new year, people think. the trading was careful. the shares lost some momentum in late trading, late european trading when the u.s. began in the negative zone, and the fact that people were nervous also demonstrated by a lot of money going into the suppose it's safe haven of german bonds and into gold. >> let's take a look at the latest market numbers for you, starting in germany. the dax ended the day just a tad up. euro stoxx 50 also made gains on the day. crossing over to new york, the picture is quite different. a lot of pessimism there. the euro gaining some ground against the dollar. it is not the only source of uncertai
. in frankfurt the dax is down about .4 percent at 7625. in paris the index there is down about.8% trading at 3644. earlier in the day asia stocks were higher almost across the board. today was the last trading day the year in many markets. south korean shares ended 0 high pressure 49% higher. mainland china stocks rose touching higher levels in more than six months. the hang seng closed at its peak for 2012. here in japan business leaders have urged prime minister shinzo abe to join negotiations for a transpacific partnership trade agreement as soon as possible. a letter was handed to abe to request the government action. in the letter, okamura said japan's participation is essentially to make the hopes of people reflected. he called on abe to beef up the competitiveness of the country's farming sector. one of the industries that could be affected by the tpp. some members of the ruling liberal democratic party have voiced opposition to japan's participation in the tpp talks. about 100 members opposing the tpp held a meeting on friday. they said japan's participation could hurt agriculture
. oracle stock down 0.8% despite that in frankfurt. still to come, interest rates in australia are moving down. down under. find out what central bank is worried about when we come back. >>> australia central bank held its rate setting meeting. matthew taylor has the details. >> the market had been pricing in a 25 basis point rate cut and the reserve bank delivered with an early christmas present. central bank lowering the cash rate to 3%, this is the lowest level since the height of the global financial crisis back in 2009. the rba says while it's still waiting to seat impact of its previous 150 basis points of rate cuts work its way through the economy, the global outlook is still seen to the down side and judge policy easing was appropriate right now. it does point to some signs of strength, though, particularly in china saying growth there appears to have stabilized and says the european economy remains a problem. domestically it says a return to strong consumption in australia is unlikely and that the rate cut is designed to foster growth in the local economy. the attention here in a
in retirement plan costs. ibm stock in frankfurt today ticking a little bit higher up three quarters or two thirds of 1%. the netflix ceo has received a wells notice from the sec, saying it may take action against him for potentially violating fair disclosure rules with a facebook post he made in july. hastings boasted the netflix topped 1 billion hours of streaming video in a month for the first time. hastings responded saying a press release wasn't necessary because his facebook page is a public forum with more than 200,000 subscribers. he also says the information wasn't material because netflix had mentioned it on its own blog in june. netflix stock down three quarters of a% in frankfurt. >>> and google is closer to selling motorola's cable set top box business. the "wall street journal" suggests final bids must be in by today. google's been shopping the unit for months. bids could reach as high as $2.5 billion. journal says both private equity firms and cable and video equipment makers expected to make offers. google stock in frankfurt down 0.4%. and after several days of public pronou
to viability. i hope i got all that right. aig stock in frankfurt off marginally, .75%. >>> and we can take a look at hsbc's shares, as well. hsbc said, quote, we accept responsibility for our past mistakes and we are profoundly sorry for them. shares fractionally lower there. >>> the bank of citi said uk authorities would not attempt to grab the uk based assets of a failing u.s. bank. the offer, which was not reciprocated, is part of an attempt by regulators in controlling the risk of institutions collapsing. >>> and the 20th position to hold a ceo at a fortune 500 case. and 16.6% are at the broad end of the fortune 500 firms. with more on the catalyst 2012 fortune 500 consensus is deborah gillis. deborah, thanks for joining us. why has the number not improved in sort of seven years? >> well, if you say it's been seven years and barely any movement in terms of women's representation on -- and, in fact, very little movement over the last three years for women in executive officer positions. why is that? it's certainly not a supply problem. we know that there are many women with the skills a
is meeting with the head of the central bank. also, we'll head out to frankfurt where do you have ya mark may have dodged another bullet. >>> then it's over to hong kong. aig sells its remaining stake in aia and formally ends a partnership dating back 100 years. all of that straight ahead. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express ecember 22nd for christmas delivery. >>> the latest numbers out of china, in the first 11 months, foreign investments led. investment from the u.s. did pick up. . on the equity front, the shanghai composite has been powering ahead up over 9% just this month. with external factors impeding economic growth, the long-term pir r picture may not be rosy. china is the only market of the year likely to end the year in the red. how is that going to impact next year? >>> buying and selling chinese stocks these days requires some spiritual guidance. people are trying to keep calm as the main stock market hover
years his law clerks took care of his wife, marian frankfurter. so whether you're in a torts class or common law class you can never go wrong talking about holmes and it's the same thing talking about law clerks. for holmes, his law clerks were his surrogate children. they were the individuals which had to listen to his stories about the civil war whether they wanted to or not, and holmes had law clerks who walked around in the district of columbia. they wouldn't talk about cert positions. and when corcoran couldn't keep up his end of an argument about dodd and the universe, holme assigned him the task of reading the old testament and coming back so they could continue their argument. so it's those types of stories that captivate me, and i think show an aspect of the supreme court clerkship, which has vanished or is vanishing. so in the 1920 and 30s you had one, maybe who law clerks. the justices did much of their opinion writing but the pressure wasn't there like they are today. today the justices have four or five law clerks. justices are consumed with question about secrecy and
conversation and frankfurter came out and was highly agitated and close to tears and at that point eliot announced we need to get done some work whittled we go down to the union station which happened to coin the bill on one of the few places in town that would serve people of color in 1948. for me, that crystallizes why i enjoyed studying bill wall clerks. it's personalities. it's personalities not only the justices but the clerks, clerks that have gone on to fame and fortune of their own. warren christopher, secretary of state for bill douglas we have had five clerks that have returned to the supreme court. i enjoy the story is as they should in the relationships on the enjoy them because they shed light on the relationship between the latitudes and personalities and the judicial behavior and also because the supreme court clerkship is about number one when it comes to internships in this country and in 1998, when i was in graduate school of thinking about doing my dissertation on clerks i had a series of articles in the usa today written by tony about the law clerks the supreme court
and until we have an international audience. this must be explained. i went through this at the frankfurt book fair couple of months ago. in the states, there is a tax designation which allows a publisher to be essentially charitable. thus, it moves itself out of the commercial from and is designated as nonprofit. it's doing work for the public good. it is in essence allowed to take charitable contributions to two this essential work. so that community who have chosen to be nonprofit and they tend to be publishers of high literary fiction translation, poetry. [inaudible] >> we do actually. we fund fellowships to writers and a raider who gets a fellowship we spend a million dollars a year, invest a million dollars a year every of of the year in either poetry or prose and it allows it brighter more comfort to go into the commercial market knowing they can take a lower advance. we fund translators and that too is a wonderful thing because when someone comes out of our process of funding translation it is more likely that gray will forge a row or knopf will say -- we are feeling the commercia
Search Results 0 to 49 of about 82 (some duplicates have been removed)